HK Securities Regulator Fines State Street Global Advisors

June 20, 2016

On June 15th, 2016, the Hong Kong Securities and Futures Commission, commonly known as SFC, reprimanded and fined State Street Global Advisors Asia Ltd. (SSgA) HK$ 4 million. The fine was for a number of alleged failures relating to SSgA’s Tracker Fund of Hong Kong or TraHK, a famous unit trust. The concept of the Tracker Fund of Hong Kong was brought to light in August 1998 and had an issue size of HK$ 33.3 billion (around US$ 4.3 billion).

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